GST 2.0: Manufacturers can install the revised prices on the current packages to reflect price changes

To alleviate at least some transitional problems of companies after the commodity and services tax rates (GST), the government has now allowed manufacturers, barriers and importers using current packaging materials by installing revised prices to reflect changes in the rate of commodity tax, services and revised pricing.

By circulating, the Ministry of Consumer Affairs extended this facility to manufacturers, manufacturers and importers of pre -packed goods or stocks with them until September 22, when new commodity and services tax rates enter into force. The facility will be available until December 31, 2025, or until the current inventory is exhausted, either before.

“The variable retail selling price (MRP) must be announced by stamping or placing the label or printing online,” said the circular issued by the Ministry of Legal Standards under the Ministry of Consumer Affairs, adding that the original MRP must be offered and that the price will not be written on it.

I also mentioned that the difference between the price of the retail selling price is originally printed on the package and the revised price, in any case, is not higher than the increase in the tax, if any, or if the new tax is imposed, such a new tax, due to the implementation of the commodity and services tax law. “In the event of a tax reduction, the revised price is not, however, higher than the price after the tax is reduced, if any.”

Manufacturers, vehicles, or importers must submit at least two ads in one or more newspaper in this regard, and through the circulation of notifications to dealers, the legal metro manager in the central government, and the units of controlling legal standards in the states and trade union regions, indicating the change in the price of these packages.

This step is expected to come as a relief for manufacturers and retail dealers on how to re -click or reprint the changes in prices after changes to the commodity and services tax rate. While the Commodity and Services Tax Council recommends the rates of average and notify it by the Ministry of Finance in the Federation and government tax departments, legal measures management must issue a notice to allow retailers to update the maximum retail price (MRP) on unnoticed goods and stocks.

Experts noted that this step is very timely and provides double benefits because it ensures that consumers are aware of transparently with revised prices, and industries also help to avoid wasting on a large scale for packaging materials.

“From the perspective of industry, this extension until December 31 provides the operational flexibility that affects its need, especially for the pouring of Islamic hearts, pharmaceutical preparations, and other sectors that have large packaging stocks. It allows companies to re -use the current packaging materials, which reduces the costs of raw materials, at the same time, ensuring at the same time, which guarantees that there is something that is committed to the tax, its guest, and its guest, It adds that there is what is left in the field of design.

In the wake of the price rationalization exercise by the commodity and services tax council under which taxes were on more than 450 elements, the changes that will be valid on September 22, the government is working on a huge exercise to alleviate the issues of transition and implementation. A meeting between the two ministers was also aid from the Sananathan TV Minister to ensure the new prices are offered in time.